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Angelo Grigoropoulos - Swiss Hellenic Group
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  • SP500 - Technicals 0 comments
    Apr 30, 2009 2:53 AM | about stocks: SPY

    The June S&P 500 index closed higher on Wednesday as it extended the rally off March's low. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are diverging but remain bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, January's high crossing at 937.00 is the next upside target. Closes below the 20-day moving average crossing at 844.32 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 879.00. Second resistance is January's high crossing at 937.00. First support is the 20-day moving average crossing at 844.32. Second support is last Wednesday's low crossing at 823.10.

    Stocks: SPY
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